RM200m Profit Target for MASkargo

By Ooi Tee Ching

MALAYSIA Airlines’ (MAS) air freight unit Malaysia Airlines Cargo Sdn Bhd (MASkargo), hopes to achieve RM200 million profit in 2007, having posted record earnings of RM179 million last year.

“Despite fewer flights and routes, MASkargo managed to reap RM179 million profit, the best achievement, so far,” said MAS managing director and chief executive officer Idris Jala.

“This year, we’re aiming for RM200 million profit. I know it’s quite a stretch target considering we need to do more with less but I’m optimistic Datuk J.J. Ong and his team will be able to do it,” Idris said.

He also forecast 2007′s revenue to go up by six per cent to RM3 billion on the basis that KL International Airport’s cargo volume can increase by five per cent to 690,000 tonnes.

In 2006, MASkargo posted RM179 million pre-tax profit on the back of RM2.8 billion revenue.

Idris was speaking to reporters after presenting awards to winners of the 2006 Mega Tonners Award last night.

Nippon Express (M) Sdn Bhd took the top spot while Bax Global Logistics Sdn Bhd (Penang) came in second place. Kintetsu Integrated Air Services Sdn Bhd (Kuala Lumpur) bagged the third prize.

“Freight forwarding agents have contributed significantly to MASkargo’s outstanding growth,” MASkargo chairman Datuk N. Sadasivan said.

A total of 38 agents received the award this year, including 19 from Kuala Lumpur, 10 from Penang, three from Singapore, three from Kuching, two from Tawau and one from Sandakan.

MASkargo, the air cargo division of MAS, managed to maintain its position as one of the top three air cargo carriers in Asia for the fifth consecutive year in the annual Air Freight and Supply Chain Awards or AFSCA ceremony in Macau last Wednesday.

(c) 2007 New Straits Times. Provided by ProQuest Information and Learning. All rights Reserved.